CNB News & Events
TO OUR SHAREHOLDERS AND FRIENDS:
During the second quarter of 2026, the U.S. economy continued to demonstrate resilience despite ongoing geopolitical tensions in the Middle East, persistent inflationary pressures, and elevated uncertainty surrounding global trade and energy markets. Financial markets remained focused on the Federal Reserve’s policy outlook as inflation continued to moderate gradually while economic growth and labor market conditions remained generally stable. The Federal Reserve concluded the second quarter of 2026 with the federal funds target range unchanged at 3.50%–3.75%. In its June policy statement, the Federal Open Market Committee (FOMC) noted that economic activity continued to expand at a solid pace, labor market conditions remained stable, and inflation remained somewhat elevated. The Committee reiterated that future monetary policy decisions would remain data dependent as it continued to balance its dual mandate of maximum employment and price stability. The Bureau of Economic Analysis (BEA), in its advance estimate, indicated the U.S. national real gross domestic product (GDP) for the second quarter of 2026 increased at an annualized rate of 1.5%, following first quarter 2026 real GDP growth of 2.1%. Growth in the second quarter was supported by increased consumer spending, private investment, and exports, partially offset by a deceleration in government spending. Locally, total real estate transactions were up 4.4% for the first half of 2026, at 9,535, as compared to 9,134 transactions during the first half of 2026.
The Company’s net income for the six months ended June 30, 2026 totaled $13,883,000, an increase of 34.9% from $10,292,000 for the same period in 2025, for a return on average assets of 1.43% and a return on average equity of 13.71% as compared to 1.11% and 11.40%, respectively, for 2025. On a per share basis, earnings increased 35.7% to $8.94 for the six months ended June 30, 2026, as compared to $6.59 for the same period in 2025.
Total assets stood at $1,997.0 million at June 30, 2026, an increase of 4.8% from $1,904.8 million at June 30, 2025; and capital increased to $205.9 million at June 30, 2026, compared to $187.3 million at June 30, 2025, up 9.9%. Total deposits were $1,658.2 million at June 30, 2026, an increase of 3.4% from $1,604.4 million at June 30, 2025. Loans totaled $865.7 million at June 30, 2026, an increase of 3.6% from $835.4 million at June 30, 2025. Investment securities were $890.1 million at June 30, 2026, an increase of 2.5% from $868.2 million at June 30, 2025.
Net income for the six months ended June 30, 2026 of $13,883,000 is primarily the result of the Bank’s net interest income. Net interest income increased 17.5% to $31,263,000 for the period ended June 30, 2026 from $26,606,000 for the same period in 2025. Other factors affecting earnings during the period include the provision for credit losses, noninterest expense, noninterest income, and income taxes. The provision for credit losses for the six months ended June 30, 2026 was $559,000, down 51.6% from $1,155,000 for the same period in 2025. The allowance for credit losses, as a percentage of net loans, measured 1.11% at June 30, 2026 and 1.06% at June 30, 2025. Noninterest expense increased 4.7% for the period ended June 30, 2026 to $17,379,000 as compared to $16,601,000 for the same period in 2025, primarily attributable to increases in salaries and employee benefits, partially offset by decreased examination and professional fees. Noninterest income increased 5.6% for the six months ended June 30, 2026 to $4,892,000 from $4,632,000 for the same period in 2025. Income taxes increased 35.9% to $4,334,000 for the period ended June 30, 2026 from $3,190,000 for the same period in 2025.
Conway National continues to prosper and maintains a substantial financial position, and earnings have been strong in recent years. Management expects that the immediate future periods will be manageable despite continued inflation, as well as other economic, domestic, and international concerns. As well, management believes that with the Bank’s financial position, current systems, and exceptional staff, the Company is well prepared to meet the needs of our growing communities and the opportunities which lie ahead.
W. Jennings Duncan, President
CNB Corporation and The Conway National Bank
CONWAY NATIONAL BANK PROVIDES OUTLET FOR PROPER AMERICAN FLAG RETIREMENT
Conway, SC – As a tribute to our wonderful nation, Conway National Bank is proud to serve as a drop-off location for those individuals wishing to retire their American flag. When the flag becomes worn, torn, faded or badly soiled, it is time to replace it with a new one, and the old one should be retired with all the dignity and respect befitting our nation’s flag.
The U.S. Flag Code states, “The flag, when it is in such condition that it is no longer a fitting emblem for display, should be destroyed in a dignified way, preferably by burning.”
CNB delivers these flags to local patriotic organizations that will ensure proper retirement is carried out.
While the ceremony for flag retirement varies by organization, these emotional ceremonies, also known as “final honors”, are performed with precision and care.
“It is both an honor and privilege to have a hand in something as sacred to our country as retiring the American flag,” says Jennings Duncan, President and CEO of CNB. “We have offered the service of being a drop-off location for years, and it is something we will continue to offer for years to come.”
Flags can be dropped off at any of CNB’s fifteen (15) locations, Monday-Thursday, 9 am – 5 pm, and Friday, 9 am – 5:30 pm. For physical addresses for each of CNB’s locations, please visit our locations page.
e-STATEMENTS AVAILABLE
CNB e-Statements are online bank statements that look exactly like your mailed paper statements. They are a safe, convenient way to view, print, or download your account statements from our Online Banking website. We can alert you when your statements are ready and it’s FREE. To find out how you can sign up for this service, visit one of our 15 offices today.
CNB EDUCATES CHILDREN ON THE VALUE OF SAVING
Our current economic times serve as a great reminder of how important it is to teach our young children the value of saving. Conway National Bank is proud, once again, to partner with the American Bankers Association by participating in their annual Teach Children To Save Day. This event brings students and bankers together to increase savings education. Since it was started by the ABA Education Foundation in 1997, more than 60,000 bankers have reached some 2.8 million young people.
CNB has participated in this event several years and has had the privilege of reaching thousands of second graders throughout their service area in Horry County and the Waccamaw Neck area of Georgetown County. While the national program focuses on children of all ages, CNB felt if you could teach them early enough, it would become a lifelong lesson. “CNB firmly believes that teaching children about money and savings is a crucial part of providing our youth with a superior education,” says Jennings Duncan, President and CEO of CNB. “Children are typically fascinated by money and enjoy spending. That’s why CNB has joined the nationwide effort to help educate children on these issues.”
While this year’s Teach Children to Save Day was April 27th, CNB will implement its program April – June to accommodate the school system’s academic calendar and statewide testing. Spreading it over two months rather than just one day also allows the Bank to reach a lot more children. The 45-minute program is conducted by several bank representatives and includes games and activities allowing students to apply the concepts of saving money. At the end of the program, each student receives a CNB piggy bank and a $5.00 savings certificate, which they can deposit in their previously opened or new CNB savings account. “These children are our future. Everything we do for them today helps secure a better tomorrow,” says Duncan. “We are pleased to offer this program, and are encouraged by the enormous support we receive from our community educators. Without their support, none of this would be possible.”
Plans are already underway for this year’s program, and schedules are being set with the schools. If you have not participated in the past, but would like a visit from CNB, call Austine Vernon, Banking Service Representative, at 843-488-8310.
In addition to the Teach Children to Save program, CNB works with high school students in the Fall with a Get Smart About Credit program.